Question

How have personal computers affected financial planning. Have they made planning something that anyone can do? Explain.

Answer 1

Role of personal computer in Financial planning

Information technology has continued to play an important role in the growth of the business industry in the 21st century. The advent of computers, IT and the Internet has changed the way businesses operate. From HR to marketing and financial management, everywhere the role of personal computer has grown. None of these functions can be run without using Information Technology. Use of personal conputer means adding speed, efficiency, and convenience to these functions. These three are important factors that can help improve productivity. IT trends have also shown that the world of technology will continue to grow. Businesses are using every form of technology to grow their sales and revenue. Finance planning is an important and a bit complex function that cannot be run efficiently without the use of personal computer.

Every finance manager is expected to have a sound knowledge of Information technology and a nice level of computer skills. Finance planning has traditionally been a complex function that has boggled minds. Chances of errors have always remained high in financial planni g.its role is central to business and most businesses take the function very seriously. Finance planning is  risky business and errors in this area can ruin all the efforts made by the staff through an entire year. Personal computer can be a very important support for the finance staff. This is why finance managers must have IT skills and should focus on use of IT for efficient financial management.Therefore anyone sound IT knowledge can do planning.